Tricky Mortgage Question

[Maurice Cox]

I am trying to obtain a mortgage on a 200k house, but I only have 10k saved.. I would love to save that 10k + empty creditcards to do a little fixer upper on the house.

The thing is. I don't want to get an FHA loan. I want to make it a rental property so I want a conventional loan which is requires 20% meaning 40k.

These days banks don't give 100% financing correct?

Now the question after thinking.. and thinking.. and thinking...

What if i was to do a "partial seller financing" for the 20% and get a loan for the remaining 80% of the money which is 160k. If the house is appraised at 200k, will the bank back me the 100% of the 160k needed to buy the house?

Hope that made sense.

Regards,